Cardano has been one of the best performers in recent days. And with expectations over the top on where prices are headed about a month, the coin is already delivering. During the weekend, the digital asset has risen by more than 20%. This rally saw the digital asset break above the $0.082. Coming into the weekend, Cardano was trading for just over $0.064 and was in the $0.052 range early last week.
Its weekend gains have been marked by a return to the top ten rankings after successfully ousting Tezos from the tenth spot. At the time of writing this, the Cardano’s market cap stands at $2.1B.
The bulls look set to break the $0.1 resistance before meeting major resistance and falling back. But its pullback is just a breather, Cardano is primed for greater gains with investors confident with the project now more than ever.
Its most recent gains began with Charles Hoskinson’s date announcement for the launch of Shelley Mainnet. This launch has taken years of meticulous planning and development. Through these developments, the Cardano team, led by Charles Hoskinson has been open, giving timely updates, and for they have countlessly been praised by Weiss Ratings. The firm most recently rated the project as ‘Excellent’. Investors now expect the most technologically advanced financial platform.
As we reported, Charles has given the expected date for the full launch to begin on June 31st with fixes running through the month of July.
Altseason; Cardano or Ethereum?
With the full release still weeks away, it’s clear that the current Cardano pump is just the start of a FOMO buying. The weeks and days leading to the full release of the network are expected to be filled with buy orders and HODLing that will drive prices up.
The more popular Ethereum is also on track to release Ethereum 2.0 which as we have reported has seen the altcoins enjoy massive gains in recent weeks. Now, Cardano is shifting gears and joining the race with the release of Shelley Mainnet as its rocket fuel.
The performances are especially timely with Bitcoin’s recent lag. Some Bitcoin investors have been seeking altcoins to take positions in while Bitcoin continues to trade in a range.
While most will choose Ethereum, given its prominence as the largest altcoin, recent performance, and price stability, Cardano will be a second if not the first choice for a substantial number of investors.